“Economists, whether they are on the right or on the left, essentially are in universal agreement, that when the government implements price controls in the rental market, you end up with housing shortages,
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“the problem goes beyond new construction, arguing that government limits on rents can reduce the number of apartments available and discourage investment in existing properties.
“And not only do you end up with fewer housing units available, but the quality of those units consistently goes down as well,
“rent increases on rent-stabilized apartments have failed to keep pace with inflation for years, even as the costs of maintaining buildings have continued to rise
“slowly but surely, landlords have less to invest in their properties.
“underneath, inflation remained sticky and food prices are undercounted by Bureau of Labor Statistics methods
“We need more housing!
“Merely the threat of a more hostile tax and regulatory environment has been enough to chill investment in New York City, and that’s already impacting prices,
“Underlying economic pressures in the U.S. remain stickier than the consumer price index figure released Wednesday implies